PJT Pumping Services Limited Filleted accounts for Companies House (small and micro)

PJT PUMPING SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03104295

PJT Pumping Services Limited

Filleted Unaudited Abridged Financial Statements

30 November 2022

PJT Pumping Services Limited

Abridged Financial Statements

Year ended 30 November 2022

Contents	Pages

Abridged statement of financial position	1 to 2

Notes to the abridged financial statements	3 to 5

PJT Pumping Services Limited

Abridged Statement of Financial Position

30 November 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	492,123	468,566

Current assets

Stocks	305,063	171,813
Debtors	668,395	870,618
Cash at bank and in hand	1,042,319	423,752
	------------	------------
	2,015,777	1,466,183

Creditors: amounts falling due within one year	618,775	734,970
	------------	------------
Net current assets	1,397,002	731,213
	------------	------------
Total assets less current liabilities	1,889,125	1,199,779

Creditors: amounts falling due after more than one year	–	121,906
	------------	------------
Net assets	1,889,125	1,077,873
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,889,025	1,077,773
	------------	------------
Shareholders funds	1,889,125	1,077,873
	------------	------------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.

PJT Pumping Services Limited

Abridged Statement of Financial Position (continued)

30 November 2022

These abridged financial statements were approved by the board of directors and authorised for issue on 23 August 2023 , and are signed on behalf of the board by:

Mr P J Tinton
Director

Company registration number: 03104295

PJT Pumping Services Limited

Notes to the Abridged Financial Statements

Year ended 30 November 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 14c Innsworth Technology Park, Innsworth Lane, Innsworth, Gloucester, Glos, GL3 1DL.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 18 (2021: 19 ).

5. Tangible assets

	£
Cost
At 1 December 2021	959,360
Additions	241,080
Disposals	( 140,116)
	------------
At 30 November 2022	1,060,324
	------------
Depreciation
At 1 December 2021	490,793
Charge for the year	139,934
Disposals	( 62,526)
	------------
At 30 November 2022	568,201
	------------
Carrying amount
At 30 November 2022	492,123
	------------
At 30 November 2021	468,567
	------------

6. Director's advances, credits and guarantees

There were no transactions during the year.